AngryAces Journal - one trade per session

Hey all,
welcome to my first thread!
How far can i get with 1 trade per session and a very small account? Let's see together.
Starting Balance: 59.66 (so really tiny account)
Trading times: London Open and New York Open (DAX and DOW)

Since i am trading m1 charts most of the time i take my support / resistance levels from the h1 chart.
Beyond that i got 4 EMAs 9, 21, 50, 200 (black, green, orange, red) - you will see on my first chart, stay tuned.
There are also 2 RSI 5 and 14 but they are not used in every trade, i will explain, when it makes sense.

i will risk 5% per trade, since the account is that small. (I know that's aggressive, so let's see)

Will post my trades and weekly results here.

First Trade is in!
My initial idea was to short the DAX on the open since it looked weak to me. I didn't get a proper entry and waited for a chance to trade the pullback. Finally there came a big drop again, which often leads to an end of the move.
After a stabilisation phase I entered long, stop below the low. after the new m30 candle opened and made a wick down I put my stop on B/E. As I was up 3R I pulled my stop very aggressive below the current price and got out as soon as price stalled.

Questions?

Will be back tomorrow, no time and reason to trade NY open today, since I already had a fantastic trade.

8 minutes to NY open. Found time for some analysis on h1 chart. (DOW)

We see the overall direction is sideways (green range). But we got some lower highs (redisch colour).

Question for now: Will the possible inverse head and shoulders pattern play out (so do we see support at the purple line? If not, we go easy further
down in my opinion.
Let's see, what the markets will do.

i prefer longs for now, but i did not found a proper entry, yet.
update: Still waitin for an entry...

Was a grind, but it played out!
Reasons for entry: market showed possible support (like in my analysis in the last posts on h1.) we saw a strong opening with a 123 reversal on m15 (again look at the previous posts). Then we got a pullback on m1 and I found an entry with a stop below a h1 support.
After we saw a pullback on the new hourly candle and a new push I put my SL to BE.
As I saw that we are grinding slowly and hit a possible h1 resistance zone I closed the trade with nearly 3R - no reason to be too greedy.

Was an extraordinary day, don't expect to continue like this, but we don't complain about a great start for this project .
Questions?

Good morning all,

Waitin for the London Open - let's have a look on DAX this morning.
We got a serious support (green line) below. If the market breaks this level it will go further down in my opinion.
We got lower highs (red color, but see a possible double bottom now, with a fake out / liquidity grab (purple colour) - name it like you want. Since it happend before real trading hours its not that important for me. We see a 123 reversal pattern.
If we see momentum long on the open we could get a nice long setup, we will see..

Market ist grinding sideways, i am waiting. This is the type of market, where it is too easy to lose money you earned the day before...
pink lines are 1-min opening range..

I am not here to trade, i am here to make money.

UPDATE:
DAX is pushing now without me and that's totally fine. My perfect trade will come to me and if not i find an opportunity at the US open

Break even Trade in:

DAX made a nice pullback and i entered on the move up again. My initial stop was below the local low (red line). When the trade reached +1R i set my SL to BE, since the market was slow and i did not want to lose on this trade, after my risk was earned.
I closed the trade manually just before BE.

No problem, just a grindy morning, maybe because we got FED decission later today.
One needs to understand this: The market moved not like yesterday. It was much more grindy, less trendy. Traders need to be careful on days like today

Will be back for US-Open.

Questions?


UPDATE:
SL would've been hit - good decision to go for BE

30 minutes until US-Open, lets have a look at the DOW:

We got still lower highs, but at the same time higher lows on the hourly. (red and blue lines)
We still got a very important support zone below (green lines)

Since we got FED decision today i dont think we will see a breakout out of this forming triangle pattern at the open.
The possibility for a no-trade-day for me is real. But let's see what the market brings us.

2nd BE Trade for the day is in:

Trading Idea: Close above hourly level with the possibility for further upside.

Entering on m1 after consolidation.
After we got no real follow through on m1 (new highs were close together, no real pushing) and the RSI Indicator showed divergence i decided to close
the Trade just above BE.
With the FED ahead i didn't want to risk too much.

Tomorrow is another day, protected my gains from yesterday, iam fine with that!

Questions?

Update:
Target Zone would've been hit, so my BE was pre-mature and not the optimal outcome. That's Trading.

Good morning,

we are down this morning on DAX, so short trades preferred, lets see what the market gives us.